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CANARA BANK GOLD LOAN

Canara Bank offers gold loans to meet the short-term need of the customers like medical expenses, wedding in a family, sudden contingencies, etc.

The Canara Bank Gold Loan is also known as Swarna Loan which can be availed by keeping gold as security. The Swarna Loan offers up to 90% loan amount of your gold item according to present market value.

The Swarna Loan Scheme offers two variants to the customers named Swarna Overdraft and Swarna Express. Canara Bank Gold Loan comes with interest rates starting at 7.65% per annum with a maximum loan amount up to Rs.20 lakh.

Canara Bank Gold Loan Highlights

Particulars Details
Interest Rate Starting from 7.65% per annum
Loan Amount Rs. 5,000 to Rs. 20 lakh
Loan Tenure
  • Swarna Loan – 12 months
  • Swarna Overdraft – 24 months
  • Swarna Express – 6 months
Processing Fee 0.5 % of the loan amount + GST subject to a minimum of Rs.500
Canara Bank Gold Loan Processing Charges 0.25% of the loan amount

Canara Bank Gold Loan Features & Benefits

  • Quick Approval: With less paperwork, the loan gets approved fast and in a hassle-free way.
  • Maximum Permissible Value: Get up to 90% of the market value of your gold as a loan.
  • Low Processing Fee: The Canara Bank charges low processing fees is 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000).
  • Guarantee – Canara Bank doesn’t require a guarantor for Gold Loan

Canara Bank Gold Loan Interest Rates 

TYPE  CHARGES
Processing Fee 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000).
Foreclosure & Part Payment Fee NIL

Canara Bank Gold Loan Eligibility Criteria

  • Applicants should be salaried/self-employed with a sufficient source of income.
  • Applicants should have an existing savings bank account with Canara Bank.
  • The purity of eligible gold is 18 karat to 22 karat
  • The cibil score is above 500
  • Individuals without an account need to be introduced by trusted

Canara Bank Gold Loan Documents Required

List Of Documents
  • Signed application form 
  • 2 passport size photographs
  • ID proof: Aadhar card, PAN card, Voter id, passport
  • Address proof: Aadhar card, Voter id, Passport, Utility bills
  • Post disbursement documents (If any)

Check other Bank Gold Loan Interest Rates:

BANKS Interest Rate
AXIS Bank Gold Loan 14.50% to 17%
HDFC Bank Gold loan 11% to 16%
Kotak Mahindra Bank Gold Loan 10.50% to 17%
Yes Bank Gold Loan 11.25% to 16.25%
ICICI Bank Gold Loan 10.00% to 19.76%
RBL Bank Gold Loan Starting at 10.75%
IndusInd Bank Gold Loan 10.50% to 16.00%
Canara Bank Gold Loan Starting at 13%
Punjab National Bank Gold Loan 10.05% to 11.05%

How to Apply for Canara Bank Gold Loan?

  1. Offline Method: By visiting the nearest bank branch.
  2. Online Method:
    • First of all visit to Canara Bank web portal
    • Now  click on “personal section”
    • In “explore products” got to retails
    • Now select “Loans”
    • Then select “Gold Loan” 
    • Fill the application form and submit it

How to contact with Canara Bank Gold Loan:

  • By customer care contact number: 18004250018
  • By customer care email id : hocancard@canarabank.com

Other products of Canara Bank:

1.Canara Bank Car Loan

2. Canara Bank Education Loan

3. Canara Bank Home Loan

4. Canera Bank Personal Loan

Canara Bank Gold Loan Frequently asked Questions:

Q.1  What is the minimum and maximum loan amount provided by Canara Bank for gold loan?

The minimum loan amount is Rs.10000 and maximum loan amount is Rs.10 lakh provided by Canara Bank for Gold Loan.

Q.2 How much repayment tenure of Canara Bank for gold loan?

The repayment tenure of Canara Bank for gold loan is 1 year. So the borrowers can repay the loan within a period of 1 year.

Q.3  Is there any processing fee charged by Canara Bank for gold loan?

Yes, the processing fee charged by Canara Bank for gold loan is 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000)

Q.4 Can I also get a Canara Bank gold loan against gold coins?

Yes, under the Swarna gold loan scheme, the gold loan can be availed against gold coins sold that were sold by banks. However, the limit is up to a maximum of 50 grams per customer.

Q.5 What is the repayment tenure for the Canara Gold loan?

Canara Gold Loan has a flexible repayment option of up to 2 years.

Q.6 What are the minimum and maximum age of the customer to get a gold loan from Canara Bank?

The minimum age of the customer is 18 years and the maximum age of the customer is 70 years to get a gold loan from Canara Bank.

Q.7 Do I need a co-applicant to avail Canara Bank gold loan?

Canara Bank does not require a co-applicant for gold loans.

Q.8 What are the minimum and maximum loan amounts provided by the CanaraBank gold loan?

The minimum loan amount is Rs.5,000 and the maximum loan amount is Rs.20 lakh provided by Canara Bank gold loan.
 

Last Updated on : 19/Mar/2021

Know More About

Canara Bank Gold Loan

You're eligible for a Canara Bank Gold Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Gold Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Canara Bank Gold Loan Interest Rates

Updated on 25 Nov 2017

Canara Bank Gold Loan Details
Interest Rate (Monthly reducing balance) 13% - 0%
Processing Fees 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000)
Loan Tenure 1 year to years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Gold Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959